Sector: properties
52 weeks high 1.590 (08-Sep-09)
52 weeks low 0.395 (12-Mar-09)click to enlarge: E&O daily chart:Previously:
1. Correction of earlier uptrend (since Jan 09 - wave 1 to 5) to 61.8% Fibonacci ratio make it strong likely that a new major uptrend is in development.
2. Bullish inverted head&shoulder pattern finalized.
3. Last 3 trading day price action was not that strong and the volume is not that encouraging. Anyway this should create good entry point.
4. Minor resistance at 1.25. Target near 1.60 or could be well over it (wave counting). 5. Important to watch for 0.95-1.10 as the vital support/pivot zone. The final 'forget it' signal is 0.86.Updates: Bullish inverted h&s didn't materialized. It's not a supporting technical factor now. Current downtrend expected to end anytime. If persist 0.95 is likely the rebound level and 0.86 is the 'final' support level. If rebound (as a final buy set-up), the target for now is over 1.30.

Sector: properties
52 weeks high 1.590 (08-Sep-09)
52 weeks low 0.395 (12-Mar-09)click to enlarge: E&O daily chart:Previously:
1. Correction of earlier uptrend (since Jan 09 - wave 1 to 5) to 61.8% Fibonacci ratio make it strong likely that a new major uptrend is in development.
2. Bullish inverted head&shoulder pattern finalized.
3. Last 3 trading day price action was not that strong and the volume is not that encouraging. Anyway this should create good entry point.
4. Minor resistance at 1.25. Target near 1.60 or could be well over it (wave counting). 5. Important to watch for 0.95-1.10 as the vital support/pivot zone. The final 'forget it' signal is 0.86.Updates: Bullish inverted h&s didn't materialized. It's not a supporting technical factor now. Current downtrend expected to end anytime. If persist 0.95 is likely the rebound level and 0.86 is the 'final' support level. If rebound (as a final buy set-up), the target for now is over 1.30.